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Book: Sentiment in the Forex Market: Indicators and Strategies To Profit from Crowd Behavior and Market Extremes (Wiley Trading) :: Book
Date: Thursday, 08 January, 2009 :: 18:24
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Sentiment in the Forex Market: Indicators and Strategies To Profit from Crowd Behavior and Market Extremes (Wiley Trading)
List Price: USD $75.00
from USD $37.42
Product Group: book
Manufacturer: Wiley
Studio: Wiley
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Editorial Review: Product Description
Crowds move markets and at major market turning points, the crowds are almost always wrong. When crowd sentiment is overwhelmingly positive or overwhelmingly negative ? it's a signal that the trend is exhausted and the market is ready to move powerfully in the opposite direction. Sentiment has long been a tool used by equity, futures, and options traders.
In Sentiment in the Forex Market, FXCM analyst Jaime Saettele applies sentiment analysis to the currency market, using both traditional and new sentiment indicators, including: Commitment of Traders reports; time cycles; pivot points; oscillators; and Fibonacci time and price ratios. He also explains how to interpret news coverage of the markets to get a sense of when participants have become overly bullish or bearish. Saettele points out that several famous traders such as George Soros and Robert Prechter made huge profits by identifying shifts in crowd sentiment at major market turning points. Many individual traders lose money in the currency market, Saettele asserts, because they are too short-term oriented and trade impulsively. He believes retail traders would be much more successful if they adopted a longer-term, contrarian approach, utilizing sentiment indicators to position themselves at the beginning points of major trends.
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Reviews:
Average Customer Review: 
2 of 2 people found the following review helpful:
Summary: Very strong tool to consider in your trade decision making process
Date: 2008-11-06 - 
Comment: I am a long time reader of DailyFX site and find it very useful.
One tool that caught my attention some time ago was the COT report column, write by Jamie Saettele.
The book goes further in explain the COT report itself, how to generate indicators from COT data, how to interpret it and, finally, how to use it as a tool to help trigger trades.
Well explained, with plenty of charts, it also has an introduction to Elliot Wave theory, largely used by the author in his tracking of markets.
I recommend the book because of it introduces this subject in a very straight forward way, easy to understand and apply immediately in your trading routine.
2 of 3 people found the following review helpful:
Summary: Jaime Saettele -- you are my FX hero!
Date: 2008-11-04 - 
Comment: Perhaps it is because I am a woman, but I have long believed that emotions and psychology can move markets more than fundamentals, and Jaime Saettele knocks this concept out of the park in this book. As retail investors like myself begin to dabble more in the foreign exchange markets, it is important to understand how to rationally interpret market sentiment amidst the daily volatility. In these days of information overload with CNBC and Wall Street Journal constantly bombarding the investing public, Saettele outlines how to correctly identify scenarios where going against the majority can translate to profit. This book was highly recommended to me, and I would do the same to anyone looking for an intelligent and entertaining take on how to be a successful long-term investor in the Forex markets.
2 of 3 people found the following review helpful:
Summary: Extremely useful analysis for any desktop trader new to the game
Date: 2008-11-04 -
Comment: As someone who has become increasingly leery of equities (who hasn't), I needed an introduction to a new market. When a friend recommended the Forex market, I bit immediately. The next thing he recommended was Saettele's book. I couldn't be happier with where it's taken me, and I don't miss sweating my stocks one bit. Pick up this book.
3 of 4 people found the following review helpful:
Summary: A Great Read!
Date: 2008-11-04 -
Comment: Jamie truly understands how forex markets work from a historical and current standpoint. His insight will prove to be relevant for years to come. I highly recommend.
2 of 2 people found the following review helpful:
Summary: A Comprehensive Guide That Can Benefit Anyone investing in Forex Markets
Date: 2008-11-04 -
Comment: Perhaps the first truly comprehensive guide to contemporary Forex investing, Saettele's "Sentiment in the Forex Market" is both a well-rounded guide to forex investing and a thoroughly enjoyable read. Advocating an approach that takes into account both established technical methods of analyses, and the equally, if not more important psychological factors that drive the forex markets, Saettele constructs a fortified, succinct methodology. Frequently hilarious, Saettele's greatest gift to the reader is one that eludes most all writers of investment guides - it's actually enjoyable to read. Saettele's technical know-how is crystal clear from the beginning, but it would be (as is frequently symptomatic of books of this sort) waisted without his equally impressive ability to distill the mathematical complexities of his research into coherent, useful guidance. A well-rounded and learned book by a bright young analyst, "Sentiment in the Forex Markets" should emerge as cornerstone for a new generation of investors.
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